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Options sold with difference in proceeds

Jun 17, 2008 7:00 PM

by Ray Poirier |Three months made a huge difference in the proceeds from stock options exercised and sold by Phyllis James, senior vice president and senior counsel of MGM MIRAGE Inc. (MGM).

On Thursday, according to a filing with the Securities and Exchange Commission, she exercised options for 5,500 shares and sold them the same day for a price ranging between $41.76 and $ 41.83, for a total of approximately $230,000.

Since the share price of most major gaming companies has fallen dramatically since the beginning of the year, there have been fewer executives exercising stock options.

The last time James exercised options was on March 13 when she converted 5,000 options of MGM stock and saw proceeds of $315,000 with the shares selling at $63 each